Tsinghua International Blockchain Association (TIBA) news roundup 28 October
China’s central bank is revising a law to make way for issuing the country’s digital currency, and the public will be able to exchange the new type of money only at certain qualified commercial banks, according to officials and analysts. Nonbank payment service providers, such as Alipay and WeChat Pay, will not be allowed to provide digital currency exchange or cash deposit services, according to an official from the People’s Bank of China. Source: China Daily
Li Lihui (李礼辉), the former head of the Bank of China, believes that the development of the digital renminbi could pave the way for the creation of a global currency. Source: China Banking News
Bitcoin’s 7-day rolling average hash rate has dropped by over 10% since earlier this month — in large part thanks to the change in season. One major reason behind the recent drop in computing power is the season change in China, home to more than 70% of the network’s mine operators. Source: The Block
Tens of millions of dollars have been reportedly raised to help Wuhan, a city in central China with 11 million people, to recover from its coronavirus outbreak earlier this year. However, charities in China are not widely trusted. Now, China’s digital payment and banking giants have been building blockchain-based platforms to tackle miscommunication between charities and the affected communities, as well as a lack of transparency in the current donation distribution system. Source: CoinDesk
Researchers have proposed a conceptual traceability framework based on blockchain to enhance the credibility of food trade between China and the European Union (EU). Source: China Daily
Compiled by Nico Gous (nicogous@gmail.com / nico.gous@yahoo.com)
